Latest news with #AmericaMovil
Time of India
3 days ago
- Business
- Time of India
Mexican telecom giant America Movil swings to profit on foreign exchange gains
By Sarah Morland MEXICO CITY: Mexican telecommunications giant America Movil reported on Tuesday a swing to profit in the second quarter of 2025, surpassing analysts' forecasts and fueled by foreign exchange gains from currencies across Latin America. "Our integral financing costs decreased significantly thanks to which we were able to log 11 billion pesos in FX gains," America Movil said in a statement. Net profit for the group, controlled by the family of Mexican billionaire Carlos Slim , hit 22.28 billion pesos ($1.19 billion) in the three months through June, rebounding from a 1.09 billion peso loss in the same quarter a year earlier. Analysts polled by LSEG had expected a $1.13 billion profit. Revenues for the firm, which operates across Latin America and Europe, rose 14% to 233.79 billion pesos, or $12.46 billion, also above analysts' $12.00 billion forecast. Earnings before interest, taxes, depreciation and amortization (EBITDA) rose 11% to 92.41 billion pesos. America Movil said its revenue was also inflated by the Mexican peso's depreciation against most currencies from other countries where the group operates. "The second quarter was characterized by significant uncertainty associated with the tariffs that the U.S. government seeks to impose on merchandise imports," it added, noting the U.S. dollar had as a result weakened against most currencies in its operating region. America Movil said its mobile services growth was driven by its post-paid segment, which added 2.9 million customers in the three months through June, including 1.4 million from Brazil. Its pre-paid platform, however, logged 1.1 million net disconnections. The firm also recorded 462,000 new broadband connections, half of which were in America Movil's home market of Mexico.
Reuters
3 days ago
- Business
- Reuters
Telecoms giant America Movil swings to profit on foreign exchange gains
MEXICO CITY, July 22 (Reuters) - Mexican telecoms giant America Movil ( opens new tab reported on Tuesday a swing to profit in the second quarter of 2025, surpassing analysts' forecasts and fueled by foreign exchange gains from currencies across Latin America. Analysts are scrutinizing the firm's earnings results for clues to the landscape of toughening competition in Mexico, the region's second-largest economy, where rivals such as Walmart ( opens new tab and Televisa ( opens new tab jostle for subscribers. America Movil pointed in a report to 11 billion pesos in FX gains - equivalent to half its net profit - which it said had allowed it to "significantly" cut down its financing costs. Net profit for the group, controlled by the family of Mexican billionaire Carlos Slim, hit 22.28 billion pesos ($1.19 billion) in the three months through June, rebounding from a loss of 1.09 billion pesos in the corresponding quarter a year earlier. Analysts polled by LSEG had expected profit of $1.13 billion. Revenues for the firm, which operates across Latin America and Europe, rose 14% to 233.79 billion pesos, or $12.46 billion, also above analysts' forecast of $12 billion. Earnings before interest, taxes, depreciation and amortization (EBITDA) rose 11% to 92.41 billion pesos. Scotiabank analysts hailed the Mexico revenues of America Movil as "remarkably resilient in light of a weak economy" and competition, adding that they believed fixed internet rivals would hit back with price cuts and improved speed and quality. Such competition is highlighted by the efforts of retail giant Walmart's (WMT.N), opens new tab mobile service Bait, which added 1.7 million new active users versus the prior three months, while broadcaster Televisa's ( opens new tab broadband service swept in thousands of new customers. America Movil said its revenue, reported in Mexican pesos, was also boosted by the currency's depreciation against most others in the regions where it operates. "The second quarter was characterized by significant uncertainty associated with the tariffs that the U.S. government seeks to impose on merchandise imports," it said. As a result, it added, the U.S. dollar also weakened against most currencies in the company's operating region. America Movil said mobile services growth was driven by its post-paid segment, which added 2.9 million customers in the three months through June, including 1.4 million from Brazil. Its pre-paid platform, however, was hit by 1.1 million net disconnections, though the firm added 462,000 new broadband connections, half in its home market of Mexico. Scotiabank analysts also pointed to a "rare" inflow from the group's pension funding in the second quarter, which they said was unlikely to continue due to union tensions over company plans to convert pension liability into stock. ($1=18.7654 pesos at end-June)
Reuters
3 days ago
- Business
- Reuters
Mexican telecom giant America Movil swings to profit on foreign exchange gains
MEXICO CITY, July 22 (Reuters) - Mexican telecommunications giant America Movil ( opens new tab reported on Tuesday a swing to profit in the second quarter of 2025, surpassing analysts' forecasts and fueled by foreign exchange gains from currencies across Latin America. "Our integral financing costs decreased significantly thanks to which we were able to log 11 billion pesos in FX gains," America Movil said in a statement. Net profit for the group, controlled by the family of Mexican billionaire Carlos Slim, hit 22.28 billion pesos ($1.19 billion) in the three months through June, rebounding from a 1.09 billion peso loss in the same quarter a year earlier. Analysts polled by LSEG had expected a $1.13 billion profit. Revenues for the firm, which operates across Latin America and Europe, rose 14% to 233.79 billion pesos, or $12.46 billion, also above analysts' $12.00 billion forecast. Earnings before interest, taxes, depreciation and amortization (EBITDA) rose 11% to 92.41 billion pesos. America Movil said its revenue was also inflated by the Mexican peso's depreciation against most currencies from other countries where the group operates. "The second quarter was characterized by significant uncertainty associated with the tariffs that the U.S. government seeks to impose on merchandise imports," it added, noting the U.S. dollar had as a result weakened against most currencies in its operating region. America Movil said its mobile services growth was driven by its post-paid segment, which added 2.9 million customers in the three months through June, including 1.4 million from Brazil. Its pre-paid platform, however, logged 1.1 million net disconnections. The firm also recorded 462,000 new broadband connections, half of which were in America Movil's home market of Mexico. ($1 = 18.7654 pesos at end-June)
Bloomberg
3 days ago
- Business
- Bloomberg
America Movil's Income Misses as Prepaid Disconnections Rise
Billionaire Carlos Slim's wireless provider America Movil SAB 's net income missed analyst estimates as prepaid subscriber disconnections reached more than a million in the quarter. Net income in the second quarter was 22.3 billion pesos ($1.2 billion), below analysts' estimates of 29.3 billion pesos. Revenue was 233.8 billion pesos, higher than analysts had expected, while a gauge of profitability known as Ebitda, which excludes items such as taxes and depreciations, beat estimates to reach 92.4 billion pesos.
Yahoo
3 days ago
- Business
- Yahoo
Mexican telecoms giant America Movil swings to profit in Q2
MEXICO CITY (Reuters) -Mexican telecommunications giant America Movil on Tuesday reported a swing to profit in the second quarter compared to the same period in 2024, surpassing analysts' forecasts as it added post-paid customers notably in Brazil. Net profit for the group, controlled by the family of Mexican billionaire Carlos Slim, hit 22.28 billion pesos ($1.19 billion), beating the $1.13 billion mean dollar-denominated estimate of analysts polled by LSEG and rebounding from a 1.09 billion peso loss a year earlier. Revenues for the firm, which operates across Latin America and Europe, rose 14% to 233.79 billion pesos ($12.46 billion), also above analysts' $12.00 billion forecast. The company's earnings before interest, taxes, depreciation and amortization (EBITDA), rose 11% in the quarter to 92.41 billion pesos. The group added 2.9 million post-paid customers in the three months through June, including 1.4 million from Brazil, though its pre-paid platform logged 1.1 million net disconnections. It also added 462,000 new broadband accesses, half of which where in America Movil's home market of Mexico. ($1 = 18.7654 pesos at end-June) (Reporting by Sarah Morland and Kylie Madry; Editing by Natalia Siniawski and Brendan O'Boyle)
